New Telegraph

Musk’s drop in fortunes breaks world record

Elon Musk, Tesla founder and new Twitter owner, delivering a speechImage source, Reuters Elon Musk has broken the world record for the largest loss of personal fortune in history. From November 2021 to December 2022 he lost around $165bn, Guinness World Records said in a blog on its website.

The figures are based on data from publisher Forbes, but Guinness said other sources suggested Mr Musk’s losses could have been higher. It follows a fall in value of shares in Mr Musk’s electric car firm Tesla after he bought Twitter last year. His $44bn (£36bn) takeover of the social media company has sparked concerns among investors that Mr Musk is no longer giving Tesla enough attention.
Mr Musk’s losses since November 2021 surpass the previous record of $58.6bn (£47bn), suffered by Japanese tech investor Masayoshi Son in 2000. The estimated loss is based on the value of his shares, which could regain their value, meaning Mr Musk’s wealth would increase again. Elon Musk sells billions of Tesla shares Elon Musk no longer world’s richest man In December, the Tesla boss lost his position as richest person in the world to Bernard Arnault, the chief executive of French luxury goods company LVMH, which owns fashion label Louis Vuitton.

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